August 1 (Reuters) – Spot corn basis bids were steady to slightly lower at elevators and processors around the U.S. Midwest on Friday in quiet trade, dealers said.
* Some farmers sold corn and delivered old-crop supplies in an effort to empty out on-farm storage bins ahead of the upcoming fall harvest.
* A corn bid fell by 5 cents per bushel at an Indiana processor.
* Some farmers called to price bushels of soft red winter wheat that was previously placed in delayed pricing programs as Chicago Board of Trade wheat futures rose.
* A wheat processor in Illinois increased its wheat bid by 5 cents per bushel in an effort to entice farmers to sell a few more bushels of the recently harvested grain.
* Soy trade was quiet as farmers have already sold most of their old-crop soybean supplies and were not aggressively booking sales of new-crop supplies, dealers said.
Basis values are quoted against CBOT futures in cts/bu: Current Previous Bid Bid Chicago, Illinois Corn processors +25 + U +25 + U UNC Corn elevators -2 + U -2 + U UNC Soybean elevators +45 + Q +45 + Q UNC Wheat elevators -5 + U -5 + U UNC Wheat processors -15 + U -20 + U UP 5 Decatur IL corn +30 + U +30 + U UNC Decatur IL soybeans +175 + X +175 + X UNC Burns Harbor IN corn -14 + U -14 + U UNC Burns Harbor IN soy +125 + X +130 + X DN 5 Lafayette IN soy UNQ X +225 + X NC Toledo OH (port) Corn -9 + U -9 + U UNC Soy +170 + X +170 + X UNC SRW wheat +5 + U +5 + U UNC Davenport IA (river) Corn +3 + U +4 + U DN 1 Soy +130 + X +135 + X DN 5 Evansville IN (rail) 15-car CSX corn +12 + U +12 + U UNC Cincinnati OH (rail) 3-car corn -5 + U -5 + U UNC Hereford TX corn +120 + U +120 + U UNC Columbus OH (rail)3-car corn +0 + U +0 + U UNC Morris IL (river) Corn +5 + U +5 + U UNC Soybeans +35 + Q +35 + Q UNC Fort Worth TX corn +120 + U +120 + U UNC Blair NE corn -10 + U -10 + U UNC Council Bluffs, IA (elevator) Corn -15 + U -15 + U UNC Soy +100 + X +100 + X UNC Des Moines IA soy UNQ UNQ UNC Sioux City IA soy +125 + X +135 + X DN 10 NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Q = August, U = September, X = November ---------------------------------------------------------------- LINKS: For U.S. forward basis spreadsheets, please double-click on: - CBOT corn report - CBOT soybean report - CBOT wheat report - U.S. grain barge freight values - U.S. Midwest cash grain PM - U.S. CIF Gulf Grain - U.S. FOB Gulf Grain (Reporting by Meredith Davis in Chicago; Editing by David Gregorio)